The Sandbox [SAND] recently broke out of its prolonged falling wedge pattern, signaling what could be the beginning of a major bullish...
recently broke out of its prolonged falling wedge pattern, signaling what could be the beginning of a major bullish trend. Trading at $0.2931 after climbing by 12.06% at press time, SAND has seen a surge in both market interest and trading volume lately.
These indicators, together, implied higher volatility, which often follows after such breakouts. Consequently, SAND’s price appeared to be entering a new upward phase. However, the token will need sustained buying pressure to confirm its longer-term direction.Additionally, on-chain data from CryptoQuant supported SAND’s recent price surge. The number of active addresses increased by 1.54% over the last 24 hours at press time, bringing the total to 40.66k.
Consequently, this fall in available supply implied that sellers have been moving their tokens off exchanges, likely opting to hold. This behavior often precedes further price hikes, especially as it reduces immediate selling pressure in the market.Open interest for Sandbox climbed by 28.26%, hitting $44.51 million. Such a major hike suggested that more traders are opening new positions – A sign of confidence in SAND.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Examining SAND’s price action: Ready for an 80% hike?The Sandbox [SAND] has confirmed a breakout from its falling wedge pattern, raising anticipation of a significant upward price movement.
Read more »
‘Identifying 20 Movies From 20 Scenes’ ChallengeWelcome to the ‘Movie Scenes’ trivia quiz! This trivia will take you on a cinematic journey as you’ll be presented with 20 movie scenes from 20 different movies. Your mission is to correctly identify which movie the scene is from.
Read more »
Police seek help identifying suspect in Mississauga sexual assaultPeel police are searching for a suspect who allegedly sexually assaulted a woman in Mississauga on Sunday.
Read more »
Police seek public assistance identifying suspects in downtown shootingCalgary police are asking for the public’s assistance to identify two suspects believed to be involved with a shooting that took place in downtown Calgary last week.
Read more »
Identifying the impact of Bitcoin whales offloading $1.83 billion in BTCBitcoin whales sold $1.83B in 72 hours. Market uncertainty is growing, despite 80% holders in profit. What is next for BTC?
Read more »
Identifying and avoiding 'pig butchering' crypto scamsGordon Law Partner tax attorney and CPA Andrew Gordon sits down with Wealth host Brad Smith to break down a trend in financial scams and what people need to ...
Read more »